Virgin headed for another disaster, warns REX boss

Original article by Tony Boyd
The Australian Financial Review – Page: 13 & 16 : 7-May-20

Regional Express’s executive chairman Lim Kim Hai says the administrator of Virgin Australia seems to merely want a quick sale of the airline. However, Lim says Deloitte’s Vaughan Strawbridge should pursue a complete restructure of Virgin, otherwise it will face more financial problems under new owners. Lim argues that amongst other things, Virgin’s "restrictive and punitive" enterprise bargaining agreements need to be rewritten, although he concedes that unions will ensure that this does not happen.

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, DELOITTE TOUCHE TOHMATSU LIMITED, REGIONAL EXPRESS AIRLINES, REGIONAL EXPRESS HOLDINGS LIMITED – ASX REX

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